Tool
Take-Home Pay Calculator
Your salary isn't your spending power. This calculator strips out 2026 federal tax, FICA and your state's real income tax to show the cash that actually lands in your bank — the number you should use when sizing a mortgage.
Your pay
Updates instantly as you type. 2026 federal brackets and FICA limits.
Annual salary
$
Pay frequency
Filing status
State
Pre-tax deductions
Lower your taxable income and your take-home — but raise your savings.
401(k) contribution6% of gross · $7,200/yr
0%25%
HSA contribution
$
per month
Health premium
$
per month, pre-tax
California · applied state tax
Progressive · marginal state rate 9.30%
State income tax uses a simplified resident-wage model for 2026. Local city taxes (e.g. NYC, Philadelphia) are not included.
Net take-home per paycheckBi-weekly (26/yr)
$3,044
From $4,615 gross per paycheck · effective tax rate 26.1%
Gross annual
$120,000
Net annual
$79,136
Federal taxes
$24,454
Federal income tax$15,458
Marginal bracket 22% · taxable wages $94,300
Social Security (6.2%)$7,291
Capped at the 2026 wage base of $184,500.
Medicare (1.45%)$1,705
State tax
$6,810
California income tax$6,810
Progressive · marginal state rate 9.30%
Pre-tax deductions
$9,600
401(k) — 6% of gross$7,200
Reduces federal taxable income; still subject to FICA.
HSA contributions$0
Reduces both federal taxable income and FICA wages.
Health premiums$2,400
Section-125 cafeteria plan — reduces federal taxable income and FICA wages.
Estimates only. Uses projected 2026 federal brackets, FICA limits and a simplified per-state wage tax model. Local city taxes, credits and W-4 withholding allowances aren't modeled. Not tax advice.
What gets pulled out of your paycheck — and why it matters for buying a home
Lenders qualify you on gross income, but your real budget runs on net pay. Knowing the gap between the two is the difference between a comfortable mortgage and one that owns you.
1. Federal income tax (2026 brackets)
The U.S. uses progressive brackets: 10%, 12%, 22%, 24%, 32%, 35%, 37%. Only the dollars inside each band are taxed at that rate. The 2026 standard deduction is roughly $16,100 single / $32,200 married filing jointly / $24,150 head of household — those dollars are taxed at 0%.
2. FICA — Social Security + Medicare
Social Security: 6.2% of wages up to the 2026 wage base (~$184,500). Above that, nothing. Medicare: 1.45% on every dollar, no cap, plus an extra 0.9% on wages above $200,000 single / $250,000 married. FICA is not affected by your 401(k) contribution — only by HSA and pre-tax health premiums.
3. State income tax — the wild card
Nine states tax no wages at all: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming. Others use a flat rate (Pennsylvania 3.07%, Arizona 2.5%, Illinois 4.95%), and some run steeply progressive top rates (California 12.3%, Hawaii 11%, New York 10.9%, New Jersey 10.75%). Same salary, very different take-home.
4. Pre-tax benefits — savings disguised as deductions
401(k), HSA, and Section-125 health premiums reduce your taxable income before withholding. They lower your take-home but they aren't spent — they're savings or insurance. Treat them as a separate line item when budgeting for a house, not as a tax loss.
Why we built this into the home-affordability flow
Most online affordability calculators ask for gross annual income — which can overstate what you can comfortably spend by 25–35%. Run your real net pay here first, then carry it into the affordability calculator using the link in the results panel.
Take-Home Pay FAQ
Three layers come out before you see it: federal income tax (10–37% on a sliding scale), FICA payroll taxes (6.2% Social Security up to the wage base + 1.45% Medicare on everything), and state income tax (0% in TX/FL/WA, up to ~13% top rate in CA). Pre-tax deductions like 401(k), HSA and health premiums also reduce the cash that hits your account — but they're savings, not taxes.